H&M Group has acquired a minority stake in a Swedish retail technology platform, Voyodo. This strategic investment will help strengthen the group’s partnership with platform.

Voyado believes, the collaboration will help enhance the platform’s capabilities and enable it to better serve larger customers while creating greater value and driving international expansion.

Erik Lagerblad, Head, H&M Group Ventures, explains, the investment will further support the platform’s future growth and strengthen their offering for other enterprise customers.

Voyado has been growing at an annual growth rate of 35 per cent since the last few years. The company has also captured market share across the Nordics and Benelux and now plans to expand into key markets such as the UK and Germany.

The platform aims to drive profitable sales by optimising ecommerce, creating personalised customer experiences, and streamlining communication across channels.

Erica Sandelin Ekelund, CEO, Voyado, adds, the firm aims to establish itself as Northern Europe’s most beloved retail tech companion while maintaining profitability and scalability.

Offering valuable insights and resources, H&M Group’s investment aligns with the platform’s efforts to expand into new segments, she adds.